Wharf Real Estate Investment (HKG:1997) is looking to maintain "moderate" lease renewal rates and make its rental strategy more "flexible" amid a slow-performing retail market, The Standard reported Thursday, citing Chairman Stephen Ng Tin-hoi.
Retail sales in Hong Kong have been falling for nearly two years, with no signs of recovery, the report said, citing Ng.
However, pessimism is contained for the second half with the number of concerts and sporting events, a stabilizing property market, lower interest rates, and a weaker Hong Kong dollar, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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